If you want to create a website in Rs 500, this is the best way,
get a blogger account
get a youtube account
get a slideshare account
Use Youtube and Slideshare to upload your Video and presentation content and link it to your blog
Use Domain registration service by blogger to get a domain name for 10$. within a minute , sachinkelkar.blogpost.com becomes sachinkelkar.com
this name is valid for 1 year.
So easiest way to kick off a personal web site.
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